Updated: Twitter acquires mobile ad company MoPub for a reported $350M

Twitter has acquired mobile advertising startup MoPub, the companies confirmed Monday evening following a report by TechCrunch that pegged the acquisition price at $350 million in stock. MoPub, founded in 2010, helps publishers manage mobile ad inventory. In a blog post, Twitter said it will use MoPub’s technology to “build real-time bidding into the Twitter ads platform” and noted, “[We] think there is a key opportunity to extend many types of native advertising across the mobile ecosystem through the MoPub exchange.” eMarketer recently projected that Twitter could hit nearly $1 billion in ad sales in 2014.